(Bloomberg) — Salesforce Inc. shares rose Wednesday after the software maker unveiled a 10% workforce reduction. Before investors get too excited about the technology sector reining in spending, they might listen to Mike Wilson, who led the field of Wall Street prognosticators in what was a dismal 2022.Â
(Bloomberg) — Peiter Zatko, the prominent computer security expert who blew the whistle last year on alleged security problems at Twitter Inc., is joining the cybersecurity firm Rapid7 Inc., the company said Wednesday.Â
US manufacturing activity contracted for a second month in December, capping the steepest annual slide in the key factory gauge since 2008 and helping to further tame price pressures.
Salesforce Inc. rose after saying it would cut about 10% of its workforce and reduce its real estate holdings. The enterprise software company hired too many people during the pandemic-fueled boom and is now adjusting to more cautious spending by its customers.
Meta Platforms Inc. was hit with €390 million ($414 million) in fines by the European Union’s main privacy watchdog over the way users’ data is used for personalized ads on its Facebook and Instagram units, and given an ultimatum to bring its services in line with EU law.
Samsung Electronics Co. announced an upgraded version of its A-series budget smartphone at the CES conference in Las Vegas, adding an improved front-facing camera and slightly larger display.
Alibaba Group Holding Ltd. led an advance in US-listed Chinese stocks on Wednesday, with Ant Group Co.’s approved fundraising plan boosting optimism that China’s regulatory clampdown on its internet sector is easing.
Cathie Wood bought Tesla Inc. stock on the day of its biggest plunge since September 2020, reaffirming her conviction in the electric-vehicle maker that many other investors have soured on.
Bank of Montreal’s capital-markets unit was the top arranger of initial public offerings in Canada in 2022, eking out two significant deals in a year when plunging equity prices all but froze the market for companies seeking to sell shares for the first time.
Investors are no longer turning a blind eye to risks facing Apple Inc., an about-face that took the iPhone maker’s market value below $2 trillion and threatens more pain for the stock in the months ahead.
